Ep. 209: Value vs. Vanity Metrics: What Urgent Care Centers Should Really Be Measuring

Expand What's up, Walkkins? Welcome fans, 00:00:08 - 00:00:13listeners, our best friends. Michael 00:00:10 - 00:00:14here. I'm doing a quick intro into this 00:00:13 - 00:00:17week's episode. So, it's actually a 00:00:14 - 00:00:19reflection of the webinar that we had a 00:00:17 - 00:00:22couple weeks ago and it's about talking 00:00:19 - 00:00:23metrics, value versus vanity. I love 00:00:22 - 00:00:25metrics. I'm a numbers guy. So, I had a 00:00:23 - 00:00:28lot of fun doing this, but I wanted to 00:00:25 - 00:00:29bring some interesting topics to that. 00:00:28 - 00:00:32So, a couple things to note for this 00:00:29 - 00:00:34episode. We're going to talk about the 00:00:32 - 00:00:37what metrics you're being you've been 00:00:34 - 00:00:38given by your agencies over time and are 00:00:37 - 00:00:40convinced are good things, but they may 00:00:38 - 00:00:41not be. They may be the vanities and 00:00:40 - 00:00:44what value metrics actually looks like. 00:00:41 - 00:00:45And we'll give real life examples where 00:00:44 - 00:00:47something looked great on the surface, 00:00:45 - 00:00:49but it was not at the end of the day. 00:00:47 - 00:00:51So, I wanted to touch on that and just 00:00:49 - 00:00:54let you guys know that this episode will 00:00:51 - 00:00:56be completely focused on numbers and 00:00:54 - 00:00:58just, you know, if you if you have 00:00:56 - 00:01:00reporting from your current agency or 00:00:58 - 00:01:02from your current marketing person, have 00:01:00 - 00:01:03you looked at the numbers and just 00:01:02 - 00:01:05digested what that actually means? And 00:01:03 - 00:01:07that's the whole point of this webinar. 00:01:05 - 00:01:08I hope you guys enjoy it and I'll catch 00:01:07 - 00:01:10you on the other side. So, let's 00:01:08 - 00:01:12actually get into the val uh vanity 00:01:10 - 00:01:15versus value. Uh, vanity is something 00:01:12 - 00:01:18that we kind of laugh at in our industry 00:01:15 - 00:01:19because it is the most pretty. That's 00:01:18 - 00:01:22why it's called vanity. The most pretty 00:01:19 - 00:01:23metrics you could see. Here's the the 00:01:22 - 00:01:26key ones that you probably get in your 00:01:23 - 00:01:28reporting all the time is impressions, 00:01:26 - 00:01:31clicks, likes, reach, number of 00:01:28 - 00:01:33followers. They look cool, right? Where, 00:01:31 - 00:01:37hey, I got you 100,000 impressions and 00:01:33 - 00:01:39and 4,000 clicks and 27 likes this week. 00:01:37 - 00:01:42Sounds amazing. But the problem with 00:01:39 - 00:01:44vanity metrics in general is that they 00:01:42 - 00:01:46don't actually mean anything in terms of 00:01:44 - 00:01:48dollars back into your clinic. It 00:01:46 - 00:01:50doesn't matter if you had a million 00:01:48 - 00:01:53impressions but not a single person 00:01:50 - 00:01:55booked because Google or Facebook will 00:01:53 - 00:01:56do that for you if you have it set up 00:01:55 - 00:01:59completely wrong because they're there 00:01:56 - 00:02:00to to make money off of you. So that's 00:01:59 - 00:02:02something that we're trying to focus on 00:02:00 - 00:02:04because we see it all the time when we 00:02:02 - 00:02:06see reporting come in from different 00:02:04 - 00:02:08agencies like, "Hey, we're picking up a 00:02:06 - 00:02:09potential new client." They said, 'Well, 00:02:08 - 00:02:12here's what the last report my agency 00:02:09 - 00:02:13gave me. And of course, it's always 00:02:12 - 00:02:15highlighting impressions and clicks, 00:02:13 - 00:02:17click-through rates, all these things. 00:02:15 - 00:02:19And we're like, well, that's cool. 00:02:17 - 00:02:21That's a cool benchmark, but it doesn't 00:02:19 - 00:02:22mean anything. And so, if we get and so 00:02:21 - 00:02:25that's what our goal today is to kind of 00:02:22 - 00:02:27educate you guys on what does it mean to 00:02:25 - 00:02:30have impressions versus all these other 00:02:27 - 00:02:32items? And and the quick answer is this 00:02:30 - 00:02:34list in front of you right now is cool 00:02:32 - 00:02:37looking, but doesn't actually help your 00:02:34 - 00:02:39business if ever. I'd say vanity metrics 00:02:37 - 00:02:41brand your business and what we're going 00:02:39 - 00:02:42to be talking about is value metrics 00:02:41 - 00:02:44that grow your clinic. 00:02:42 - 00:02:46>> Well, and even for us, so like at when 00:02:44 - 00:02:48we like run ads, impressions mean 00:02:46 - 00:02:50something to us to make sure the the 00:02:48 - 00:02:52campaigns are being seen, but that's all 00:02:50 - 00:02:53we really care about. Like, okay, yeah, 00:02:52 - 00:02:55it's being seen. Cool. That's all we 00:02:53 - 00:02:57care about the impression side. And each 00:02:55 - 00:02:59layer is a little bit different, but we 00:02:57 - 00:03:00also but we care about the end result, 00:02:59 - 00:03:02and that's what we're talking about 00:03:00 - 00:03:04today. All right, so that's the vanity 00:03:02 - 00:03:05metric. I hope that makes sense. You 00:03:04 - 00:03:07probably have heard it before. 00:03:05 - 00:03:08If you got questions, make sure you fire 00:03:07 - 00:03:10them off in the chat and Hannah will 00:03:08 - 00:03:12make sure she'll have them for us to 00:03:10 - 00:03:14review. Next is the value metric. So, 00:03:12 - 00:03:16this is where it actually makes a little 00:03:14 - 00:03:18more sense now. So, cost per lead, 00:03:16 - 00:03:21conversion rate. So, on conversion rate, 00:03:18 - 00:03:24like did they actually when they clicked 00:03:21 - 00:03:26the ad, that's not the conversion from 00:03:24 - 00:03:28clicking to actually taking an action 00:03:26 - 00:03:30like they called you or they booked an 00:03:28 - 00:03:31appointment. That's a conversion rate, 00:03:30 - 00:03:33right? And in cost per patient 00:03:31 - 00:03:34acquisition, like how much did it cost 00:03:33 - 00:03:36to get that patient to interact with you 00:03:34 - 00:03:38guys? Because that really does matter. 00:03:36 - 00:03:40Lifetime patient value. This one's super 00:03:38 - 00:03:42interesting because we have limitations 00:03:40 - 00:03:43on how far we see a patient come back in 00:03:42 - 00:03:45because we talk about repeat visitors 00:03:43 - 00:03:47all the time. You know, that patient may 00:03:45 - 00:03:49have come in for that one visit, but how 00:03:47 - 00:03:50often they come back? You know, that 00:03:49 - 00:03:52actually makes a big difference where 00:03:50 - 00:03:54that patient may be worth $200 today, 00:03:52 - 00:03:55but maybe they come back x amount of 00:03:54 - 00:03:56times and worth thousands later. You 00:03:55 - 00:03:58have to look at that and because there 00:03:56 - 00:04:01may be a certain type of patient you 00:03:58 - 00:04:03want the most of. 00:04:01 - 00:04:04Booked appointments of course matters. 00:04:03 - 00:04:06Search visibility matters. These are 00:04:04 - 00:04:07things where are you showing up where 00:04:06 - 00:04:09you're supposed to and then I think 00:04:07 - 00:04:11booked appointments probably one of the 00:04:09 - 00:04:13biggest piece that we can see and of 00:04:11 - 00:04:15course actual patients coming in your 00:04:13 - 00:04:17door which we talk about daily patient 00:04:15 - 00:04:19volume all the time. All right. So this 00:04:17 - 00:04:21is the the value and you know basically 00:04:19 - 00:04:23if you're buying marketing like buying 00:04:21 - 00:04:25from us or buying from anybody can you 00:04:23 - 00:04:27tie a dollar amount? Did they make you 00:04:25 - 00:04:29money or did you lose money with them? 00:04:27 - 00:04:31And that's where the value side comes 00:04:29 - 00:04:34into play. 00:04:31 - 00:04:36All right, real world example. I'm not 00:04:34 - 00:04:38joking. This is a real world. I didn't 00:04:36 - 00:04:40like just throw up these numbers for 00:04:38 - 00:04:42kicks and giggles. This was based on an 00:04:40 - 00:04:45audit that we did of an existing urgent 00:04:42 - 00:04:47care eight location urgent care. Um, 00:04:45 - 00:04:49these numbers are they're kind of 00:04:47 - 00:04:53insane, but it's real. So, this is the 00:04:49 - 00:04:57where the the vanity issue comes up. 00:04:53 - 00:05:02167,000 impressions in 30 days. Sounds 00:04:57 - 00:05:05amazing. I had 160,000 167,000 eyeballs. 00:05:02 - 00:05:05Look at my ad. Whoa, that's cool. 00:05:05 - 00:05:07>> Could be. 00:05:05 - 00:05:11>> That feels like uh Look at that old 00:05:07 - 00:05:13movie. Uh 13,600 clicks. That's a big 00:05:11 - 00:05:16number, too. That's so cool. 00:05:13 - 00:05:19>> Spent $117,000 00:05:16 - 00:05:21over 30 days. That's insane. By the way, 00:05:19 - 00:05:23you really don't need to spend that type 00:05:21 - 00:05:25of money on eight locations to get an if 00:05:23 - 00:05:27you did and you did it right, it would 00:05:25 - 00:05:28be amazing. But 00:05:27 - 00:05:30>> I'd say you could spend somewhere 00:05:28 - 00:05:31between 8 and 15,000 on that many 00:05:30 - 00:05:32locations. 00:05:31 - 00:05:35>> Yeah, you could and make an impact. 00:05:32 - 00:05:37Anyway, $17,000 00:05:35 - 00:05:41over 30 days, which is an insane amount 00:05:37 - 00:05:42of money. $437 patients booked. Doesn't 00:05:41 - 00:05:44even mean they actually came into the 00:05:42 - 00:05:46clinic. We just saw like the conversion. 00:05:44 - 00:05:47437 conversions. 00:05:46 - 00:05:49>> We didn't do this, by the By the way, 00:05:47 - 00:05:50this is just when we did an audit. This 00:05:49 - 00:05:52is an audit of an accountant. They're 00:05:50 - 00:05:56becoming a client, by the way. Um, 00:05:52 - 00:05:59anyway, cost per patient, $267 plus. 00:05:56 - 00:06:01This is terrible because you look at the 00:05:59 - 00:06:02front end, 167,000 impression. That 00:06:01 - 00:06:05sounds super cool. There's that vanity 00:06:02 - 00:06:08metric kicking in hard. Man, I saw that 00:06:05 - 00:06:11many that many people saw my ad. Bull it 00:06:08 - 00:06:13down to the actual uh value metric. $267 00:06:11 - 00:06:14a patient. Well, they're losing money. 00:06:13 - 00:06:16>> You're paying that patient to come in 00:06:14 - 00:06:18and see Yeah, you're literally paying 00:06:16 - 00:06:20the patient 00:06:18 - 00:06:22$100 more than what they're paying you 00:06:20 - 00:06:24to come see you. That's a losing. I 00:06:22 - 00:06:26literally when I saw this go through in 00:06:24 - 00:06:27the audit, I was like, how are how would 00:06:26 - 00:06:30they survive for five years? Like, how 00:06:27 - 00:06:31does this even function? Um, and it's 00:06:30 - 00:06:33just one of the things like it's just 00:06:31 - 00:06:35hard to kind of comprehend. Anyway, so I 00:06:33 - 00:06:37just want to expose that saying this is 00:06:35 - 00:06:38an extreme example. It's a real one. So, 00:06:37 - 00:06:41there's some out there that probably 00:06:38 - 00:06:43have seen this before. Um, and it's just 00:06:41 - 00:06:44that classic. It's one of those they set 00:06:43 - 00:06:46it up and just said whatever Google 00:06:44 - 00:06:49recommends we'll go for it and they just 00:06:46 - 00:06:50kept pressing apply all and it Google 00:06:49 - 00:06:52wants your money so they're going to 00:06:50 - 00:06:53keep increase. Oh, you need more budget. 00:06:52 - 00:06:55You need 00:06:53 - 00:06:56>> Google is like a 16-year-old child. 00:06:55 - 00:06:57>> Yeah, they're sucking your budget right 00:06:56 - 00:06:58out. So anyway, 00:06:57 - 00:07:00>> drain your wallet. 00:06:58 - 00:07:03>> This is a real example. This is a real 00:07:00 - 00:07:05problem. Uh I wish I was making this up, 00:07:03 - 00:07:07but I'm not. And there you go. All 00:07:05 - 00:07:09right, 00:07:07 - 00:07:11let's roll in. So, we love having a 00:07:09 - 00:07:12question breaking up the the sections a 00:07:11 - 00:07:14little bit here. So, first question out 00:07:12 - 00:07:16of the gate. So, uh Hannah just threw it 00:07:14 - 00:07:18on your screen. What's your number one 00:07:16 - 00:07:21marketing metric right now? Impressions, 00:07:18 - 00:07:23clicks, cost per lead, cost per p 00:07:21 - 00:07:27acquisition, lifetime patient value. 00:07:23 - 00:07:29We'll let it run for just a second. 00:07:27 - 00:07:31All right. So, we'll get the result in 00:07:29 - 00:07:34just a second. But I'll tell you though, 00:07:31 - 00:07:37um, and we know that people cool, cool. 00:07:34 - 00:07:38Cost per cost per patient acquisition 00:07:37 - 00:07:40number one choice there, which is cool 00:07:38 - 00:07:41to see. That's actually really great to 00:07:40 - 00:07:44hear. Uh, I was going to get concerned 00:07:41 - 00:07:46if impression clicks became the bigger 00:07:44 - 00:07:47response, but you guys are looking at 00:07:46 - 00:07:48the right things, which we do 00:07:47 - 00:07:51appreciate. 00:07:48 - 00:07:53All right, so the hidden cost. So, 00:07:51 - 00:07:55hidden cost side of things. So, why van 00:07:53 - 00:07:57major distract urgent cares? It it kind 00:07:55 - 00:07:58of goes back to it looks so cool. like 00:07:57 - 00:08:01it looks like we're doing all the right 00:07:58 - 00:08:03things like yeah we increased the ad 00:08:01 - 00:08:07spin and boom our impressions and clicks 00:08:03 - 00:08:09went up or we see this quite a bit the 00:08:07 - 00:08:11reporting that the dashboard that the 00:08:09 - 00:08:14agency gave you has all these metrics 00:08:11 - 00:08:17like we we have we use antalytics you 00:08:14 - 00:08:19can build out a report with 150 metrics 00:08:17 - 00:08:20but it it's just noise at that point 00:08:19 - 00:08:24like it doesn't make any sense it 00:08:20 - 00:08:26doesn't filter anything truly um if we 00:08:24 - 00:08:28had our ways we would just 100% say, 00:08:26 - 00:08:29"How many patients per day are you 00:08:28 - 00:08:32getting?" But we have to pull that from 00:08:29 - 00:08:34the clinic themselves. But yeah, you can 00:08:32 - 00:08:37get really because we've even seen it 00:08:34 - 00:08:40where a particular ad group throws 00:08:37 - 00:08:41everything off because the impressions 00:08:40 - 00:08:43were like high on one and it caused the 00:08:41 - 00:08:44other side to not look as good. So, you 00:08:43 - 00:08:46have to go through the noise to find the 00:08:44 - 00:08:49real answer. And that's one of the 00:08:46 - 00:08:50challenges where it's it's super easy to 00:08:49 - 00:08:52report on these items that have all 00:08:50 - 00:08:53these big numbers because it makes the 00:08:52 - 00:08:55agency look really good or the effort 00:08:53 - 00:08:57that you made looks really good. Even 00:08:55 - 00:08:59Facebook when you're inside their ad 00:08:57 - 00:09:00platform, they're going to focus on some 00:08:59 - 00:09:02things and then you have to dig a little 00:09:00 - 00:09:04deeper to see the actual leads that were 00:09:02 - 00:09:05being created because they like showing 00:09:04 - 00:09:07off those good numbers because they want 00:09:05 - 00:09:09to keep you going, right? Like that's 00:09:07 - 00:09:11part of the goal anyway. And then it 00:09:09 - 00:09:14will force you to say, "Well, you know, 00:09:11 - 00:09:15if I if I added another $1,000 a month, 00:09:14 - 00:09:16I got that much more impressions and 00:09:15 - 00:09:19clicks. Maybe I should add some more." 00:09:16 - 00:09:20Like, no, no, no. Let's see what did 00:09:19 - 00:09:23they actually create more conversions or 00:09:20 - 00:09:24did they distract you and create the 00:09:23 - 00:09:25same amount of conversion and just cost 00:09:24 - 00:09:26you more money? 00:09:25 - 00:09:29>> Well, I know in Facebook when I'm 00:09:26 - 00:09:31setting up a Facebook ad or a meta ad um 00:09:29 - 00:09:33when I'm dialing in the audience, it'll 00:09:31 - 00:09:35tell you this is your audience size, 00:09:33 - 00:09:38which is a complete vanity metric. 00:09:35 - 00:09:40>> Yeah. Like, who cares? And it's real. 00:09:38 - 00:09:41And even uh Google will say, "Here's the 00:09:40 - 00:09:44recommended budget. Here's recommend 00:09:41 - 00:09:46budget." I've never seen it say you have 00:09:44 - 00:09:46too much budget. I don't think I've ever 00:09:46 - 00:09:48seen that before. 00:09:46 - 00:09:51>> Never will. It never will. Now, we've 00:09:48 - 00:09:53seen campaigns not spend the budget, but 00:09:51 - 00:09:55that's pretty rare, too. Um, but no, 00:09:53 - 00:09:57it's they're very those platforms, 00:09:55 - 00:09:58they're there to make money and they 00:09:57 - 00:10:00want your money and they're going to 00:09:58 - 00:10:02make it seem like you have to spend 00:10:00 - 00:10:03every dime you have. Um, and there's 00:10:02 - 00:10:05always going to be somebody else out 00:10:03 - 00:10:06trying to outspend you somewhere. But if 00:10:05 - 00:10:09you're smart about it, you don't burn 00:10:06 - 00:10:12your dollars just to make yourself feel 00:10:09 - 00:10:14better ultimately. Anyway, so wanted to 00:10:12 - 00:10:15focus on that for just a second. Yeah. 00:10:14 - 00:10:16So when you start chasing, like I was 00:10:15 - 00:10:18saying, you start chasing the clicks 00:10:16 - 00:10:20instead of the patience, you just start 00:10:18 - 00:10:21burning dollars. And then all of a 00:10:20 - 00:10:23sudden, your profitability is not going 00:10:21 - 00:10:25up, it's just laying flat or going down, 00:10:23 - 00:10:26but you're spending more money, but 00:10:25 - 00:10:28nothing's resulting from now. I mean, we 00:10:26 - 00:10:31see that ourselves like when we increase 00:10:28 - 00:10:33ad spend for our own sales to help find 00:10:31 - 00:10:34urgent care, like we have to be careful 00:10:33 - 00:10:37like if we just keep increasing, are we 00:10:34 - 00:10:39just is the thing just spending dollars 00:10:37 - 00:10:41at that point and not really actually 00:10:39 - 00:10:44helping things out? Like even in our 00:10:41 - 00:10:45world, we love the conversion cost to be 00:10:44 - 00:10:47at a certain level, right? And then when 00:10:45 - 00:10:49we see it go above a certain level, we 00:10:47 - 00:10:50want to say, "Hey, there might be an 00:10:49 - 00:10:53issue here. Let's not just increase ad 00:10:50 - 00:10:54spend. Let's focus on refining what we 00:10:53 - 00:10:56have first, right?" And that's just 00:10:54 - 00:10:58that's business, right? Where you can't 00:10:56 - 00:10:59just keep throwing dollars at it and 00:10:58 - 00:11:01it'll just magically work. You know, you 00:10:59 - 00:11:05have to be very careful with the dollars 00:11:01 - 00:11:07you put out there. So, all right. Next 00:11:05 - 00:11:09question that we have in place here. How 00:11:07 - 00:11:13confident are you in your current 00:11:09 - 00:11:15marketing data? Data. Data. 00:11:13 - 00:11:15>> That depends on if it's Star Trek or 00:11:15 - 00:11:17real world. 00:11:15 - 00:11:21>> Yeah, 00:11:17 - 00:11:21>> data is a cyborg. Data is information 00:11:21 - 00:11:23you can use. 00:11:21 - 00:11:25>> You know, I used to work for an IT 00:11:23 - 00:11:25company that was they all said southern 00:11:25 - 00:11:28data. 00:11:25 - 00:11:29>> Southern data. I like that. That's good. 00:11:28 - 00:11:31>> And that's just the way it is. Anyway, 00:11:29 - 00:11:34so confident, very confident, somewhat 00:11:31 - 00:11:35not. I'll just look at the reports. So, 00:11:34 - 00:11:36we'll give youall just a second to go 00:11:35 - 00:11:37through that 00:11:36 - 00:11:38>> and then we'll come back to the answer. 00:11:37 - 00:11:40Somewhat confident. 00:11:38 - 00:11:41>> I like that. That's cool. That's an 00:11:40 - 00:11:43honest answer, right? 00:11:41 - 00:11:44>> I think if if I were to look at that, I 00:11:43 - 00:11:46would say, "Hey, listen. I think I know 00:11:44 - 00:11:47what I'm looking at, but I'm not 100% 00:11:46 - 00:11:48sure of some of these other areas." 00:11:47 - 00:11:48Let's keep going. 00:11:48 - 00:11:50>> Nice. 00:11:48 - 00:11:51>> Awesome. So, I want to take a few 00:11:50 - 00:11:53minutes and talk about the six value 00:11:51 - 00:11:56metrics that actually matter to your 00:11:53 - 00:11:58clinic. Um, and it works on multi 00:11:56 - 00:11:59clinics, too. That keeps clicking over 00:11:58 - 00:12:01there for some reason. All right. So, 00:11:59 - 00:12:03here's the first value metric we want to 00:12:01 - 00:12:04look at, and that is the cost per lead. 00:12:03 - 00:12:06The cost per lead is just simply the 00:12:04 - 00:12:08cost to generate a lead into your 00:12:06 - 00:12:10clinic. Um, I think the most important 00:12:08 - 00:12:11thing here when you're putting this 00:12:10 - 00:12:14metric together is to understand and 00:12:11 - 00:12:16define what a lead is to you. Uh, I can 00:12:14 - 00:12:19tell you what it is for us, the agency. 00:12:16 - 00:12:22We want to know did the did the the 00:12:19 - 00:12:25money, the cost, the investment lead in 00:12:22 - 00:12:28a phone call, did it lead in a request 00:12:25 - 00:12:31for directions to your clinic or did it 00:12:28 - 00:12:32go to your youruler page? Um, due to 00:12:31 - 00:12:35HIPPA compliance, a lot of times you 00:12:32 - 00:12:36can't track on the back end of that. If 00:12:35 - 00:12:37you know how to set that up internally, 00:12:36 - 00:12:38though, that's a great way to do it, 00:12:37 - 00:12:41too, is you want to set up that 00:12:38 - 00:12:42conversion um, the cost per lead on 00:12:41 - 00:12:44whether or not they actually went 00:12:42 - 00:12:45through the entire process. But at the 00:12:44 - 00:12:46end of the day, it's still a lead. You 00:12:45 - 00:12:48have not acquired them until they come 00:12:46 - 00:12:48into your clinic. Okay, 00:12:48 - 00:12:53>> real. 00:12:48 - 00:12:56>> So, going to the next one, cost per pis. 00:12:53 - 00:12:59um outside of the uh urgent care space, 00:12:56 - 00:13:02it would be cost called a uh customer 00:12:59 - 00:13:04acquisition cost, which is how most uh 00:13:02 - 00:13:05CPAs and all that that that's how 00:13:04 - 00:13:06they're going to view that. But for us, 00:13:05 - 00:13:08we're going to say cost per patient 00:13:06 - 00:13:10acquisition. And we have some numbers at 00:13:08 - 00:13:12the end of the slide talking about what 00:13:10 - 00:13:14these metrics should look like from a 00:13:12 - 00:13:15dollar uh perspective. But this is the 00:13:14 - 00:13:18cost for a patient to come through your 00:13:15 - 00:13:21doors. Um this isn't just a lead, this 00:13:18 - 00:13:22is a converted lead, right? So, we want 00:13:21 - 00:13:24to know what is the true ROI of your 00:13:22 - 00:13:26marketing. And if you don't know your 00:13:24 - 00:13:28actual uh patient acquisition 00:13:26 - 00:13:30acquisition cost, you'll never know. 00:13:28 - 00:13:33Here's the best way to do this, by the 00:13:30 - 00:13:36way. Take the total amount of dollars 00:13:33 - 00:13:38that you put into uh your marketing. And 00:13:36 - 00:13:39I'm not just talking about the ad spend. 00:13:38 - 00:13:41I'm talking about the total investments. 00:13:39 - 00:13:42Do you have somebody that you pay for 00:13:41 - 00:13:45social media? Do you have somebody that 00:13:42 - 00:13:48you uh an agency? What is what is their 00:13:45 - 00:13:50cost? Um what is the cost on ad spend? 00:13:48 - 00:13:51All of these things should add up. and 00:13:50 - 00:13:54then divide it by the number of patients 00:13:51 - 00:13:55that you got that month. Now, better if 00:13:54 - 00:13:56you know that they came from these 00:13:55 - 00:13:59certain channels, and we'll talk about 00:13:56 - 00:14:01that. So, what is the conversion rate? 00:13:59 - 00:14:03All right, these you really want to 00:14:01 - 00:14:04break down by source anyway, whether 00:14:03 - 00:14:07you're running Google ads, search engine 00:14:04 - 00:14:09optimization, um do you have a postcard 00:14:07 - 00:14:11outreach that you do, uh all of these 00:14:09 - 00:14:13different sources, but what is the 00:14:11 - 00:14:17conversion rate? Basically, is if I put 00:14:13 - 00:14:19it if if if a thousand people saw my ad, 00:14:17 - 00:14:22how many of those turned into a lead? 00:14:19 - 00:14:25That is your conversion rate, right? So, 00:14:22 - 00:14:27I saw 22 patients. I'm sorry, I got 22 00:14:25 - 00:14:30leads and a thousand people clicked on 00:14:27 - 00:14:33my ad. Then your conversion rate is 22%. 00:14:30 - 00:14:35And that's strong. That's strong. Um, so 00:14:33 - 00:14:37we want to let you diagnose uh the 00:14:35 - 00:14:38funnels that you're using. The reason 00:14:37 - 00:14:41you want to know this is so that you can 00:14:38 - 00:14:42take, all right, this ad is working 00:14:41 - 00:14:44based on this landing page that they're 00:14:42 - 00:14:45going to and they're booking visits on 00:14:44 - 00:14:47this page. You want to know what's 00:14:45 - 00:14:49working so you can refine that. All 00:14:47 - 00:14:50right? And we want to track by channel. 00:14:49 - 00:14:53Again, this is going to be your Google 00:14:50 - 00:14:54ads, your SEO, your outreach, your boots 00:14:53 - 00:14:54on the ground. Y 00:14:54 - 00:14:56>> right. 00:14:54 - 00:14:59>> Um, all right. Number four is the 00:14:56 - 00:15:01lifetime patient value. 00:14:59 - 00:15:03Saw a number on this the other day. Wish 00:15:01 - 00:15:06I could tell you what it was for every 00:15:03 - 00:15:08single clinic in every situation, but if 00:15:06 - 00:15:11you're looking at the the lifetime 00:15:08 - 00:15:13value, typically it's a fiveyear span 00:15:11 - 00:15:17for for a patient. That's that's how how 00:15:13 - 00:15:19often people um stay in a CRM or a 00:15:17 - 00:15:22system, right? So, if the customer 00:15:19 - 00:15:23lifetime value I'm sorry, if the time 00:15:22 - 00:15:25frame is five years 00:15:23 - 00:15:25>> and they're coming to the clinic twice a 00:15:25 - 00:15:26year, 00:15:25 - 00:15:27>> there you go. 00:15:26 - 00:15:30>> Right? So, you're looking at an average 00:15:27 - 00:15:32visit of 10 visits a year. I'm sorry, 10 00:15:30 - 00:15:35visits total for that client and then 00:15:32 - 00:15:38you multiply it times $100, then your 00:15:35 - 00:15:40lifetime value is $1,000. If it's $120, 00:15:38 - 00:15:42then it's $1,200. Yep. Right. So that's 00:15:40 - 00:15:46the way you come up with the lifetime 00:15:42 - 00:15:48value of your patient. Even better if 00:15:46 - 00:15:50you can tie that lifetime value to who 00:15:48 - 00:15:52they bring in. Are they bringing in 00:15:50 - 00:15:54their spouse? Are they bringing in their 00:15:52 - 00:15:56children? These type of things that can 00:15:54 - 00:15:58increase the lifetime value. The other 00:15:56 - 00:16:00thing that can increase the lifetime 00:15:58 - 00:16:03value is the ancillary services that you 00:16:00 - 00:16:04may offer. Do you offer weight loss? Do 00:16:03 - 00:16:06you offer other types of services that 00:16:04 - 00:16:08would bring them in for something other 00:16:06 - 00:16:11than an immediate need? Well, we even 00:16:08 - 00:16:13see that too in our tracking where if we 00:16:11 - 00:16:14were able to track the initial phone 00:16:13 - 00:16:14call that they made, 00:16:14 - 00:16:16>> right? 00:16:14 - 00:16:18>> We have something in our software called 00:16:16 - 00:16:19patient or jour client call journey. 00:16:18 - 00:16:22>> Call journey. Yep. 00:16:19 - 00:16:24>> And it shows they went back and made the 00:16:22 - 00:16:26same call. So we have a couple of 00:16:24 - 00:16:27clinics that are three, four plus years 00:16:26 - 00:16:30old. And we have some patients that call 00:16:27 - 00:16:31back in and we can scroll back years and 00:16:30 - 00:16:33see like, oh, so we generated them 00:16:31 - 00:16:36originally and they keep coming back 00:16:33 - 00:16:38into our system every six months or 00:16:36 - 00:16:40every year pretty consistently and they 00:16:38 - 00:16:42have different needs every time. 00:16:40 - 00:16:43>> You bring up a fun point there that we 00:16:42 - 00:16:45don't have in the slideshow, but thank 00:16:43 - 00:16:48you for doing this. And that is a uh 00:16:45 - 00:16:50original lead or a unique lead versus a 00:16:48 - 00:16:53a repeat lead. And if you're on Ring 00:16:50 - 00:16:54Central or Weave or you name it, 00:16:53 - 00:16:56something like that for your phone 00:16:54 - 00:16:58system, it's going to tell you if you go 00:16:56 - 00:17:01in and look, it should tell you if it's 00:16:58 - 00:17:02a unique call or a repeat call. Um those 00:17:01 - 00:17:05repeat calls, you're like, "Ah, I pay 00:17:02 - 00:17:07for a repeat call." Maybe you did, but 00:17:05 - 00:17:08it's worth it. They came back. I Well, 00:17:07 - 00:17:11and that's the thing too that we keep 00:17:08 - 00:17:14that we remind our urgent cares. uh 00:17:11 - 00:17:16branding is so difficult in your niche 00:17:14 - 00:17:19and so or industry and so people don't 00:17:16 - 00:17:19fully remember where they went every 00:17:19 - 00:17:20time, 00:17:19 - 00:17:21>> right? 00:17:20 - 00:17:22>> Or they can't even tell you where 00:17:21 - 00:17:23they're going. They just know they're 00:17:22 - 00:17:26going to that urgent care and they can't 00:17:23 - 00:17:28tell you when to get the bill. 00:17:26 - 00:17:30>> Um and so that's that part where like it 00:17:28 - 00:17:31may be repeat, but it may been totally 00:17:30 - 00:17:33unique to them because they don't 00:17:31 - 00:17:35remember a year ago where they went. 00:17:33 - 00:17:37Well, here's another thing you really 00:17:35 - 00:17:39have to pay attention to as well is that 00:17:37 - 00:17:41very few people go to 00:17:39 - 00:17:42michaelelsurgentare.com. 00:17:41 - 00:17:44>> What they do is they go to their search 00:17:42 - 00:17:46bar and put in michael's urgent care and 00:17:44 - 00:17:48then they click on on what would appear 00:17:46 - 00:17:50to be Michael's urgent care, which if 00:17:48 - 00:17:52it's on Google, um, if you're running 00:17:50 - 00:17:53ads properly, you're going to be at the 00:17:52 - 00:17:54top of the page, they're just going to 00:17:53 - 00:17:54click that. You're going to pay for it 00:17:54 - 00:17:55again. 00:17:54 - 00:17:57>> Yeah. 00:17:55 - 00:17:59>> So, no way to combat that. Here's the 00:17:57 - 00:18:00here's the reason you want to run ads on 00:17:59 - 00:18:02your name anyway. This is free. You 00:18:00 - 00:18:04didn't pay for it, but you're going to. 00:18:02 - 00:18:06Um, this is why you run what we call 00:18:04 - 00:18:07brand defense ads where you run at least 00:18:06 - 00:18:10a hundred bucks or something like that 00:18:07 - 00:18:11on the on your own brand because if not 00:18:10 - 00:18:12your competitors will. 00:18:11 - 00:18:15>> Yeah. 00:18:12 - 00:18:17>> All right. So, value number five is 00:18:15 - 00:18:18booked appointments from the marketing. 00:18:17 - 00:18:20Again, at the end of the day, we want to 00:18:18 - 00:18:22know who booked an appointment. Now, 00:18:20 - 00:18:24this this this 00:18:22 - 00:18:26isn't an acquisition cost, but you do 00:18:24 - 00:18:28want to know who booked. So, um, if I 00:18:26 - 00:18:31generated 100 phone calls, we know 00:18:28 - 00:18:33somewhere to the tune of 65 to 70% based 00:18:31 - 00:18:36on all of the data that we have. 65 to 00:18:33 - 00:18:3870% of those are going to book an 00:18:36 - 00:18:39appointment either over the phone or 00:18:38 - 00:18:41they're going to walk in or they're 00:18:39 - 00:18:43going to hit your online and book. But 00:18:41 - 00:18:45you need to know that number. What is 00:18:43 - 00:18:47the number of booked appointments that 00:18:45 - 00:18:49originated from your marketing efforts? 00:18:47 - 00:18:51Uh, leads are great. Uh, I get it. 00:18:49 - 00:18:54They're fun. They look good. Again, 00:18:51 - 00:18:55leads if not careful can also be a 00:18:54 - 00:18:57vanity metric. Yeah. Right. But we still 00:18:55 - 00:19:00want to measure those leads. 00:18:57 - 00:19:01>> Yep. Yep. And when the book visit and we 00:19:00 - 00:19:04also recognize too a booked appointment 00:19:01 - 00:19:06doesn't necessarily mean a patient. 00:19:04 - 00:19:07>> There's a really good chance for sure, 00:19:06 - 00:19:10but it is something because there's just 00:19:07 - 00:19:12limitations like we there's no clean way 00:19:10 - 00:19:15of saying that patient actually connect 00:19:12 - 00:19:17all the way back. You know, PHI is just 00:19:15 - 00:19:19a challenge with all that. I will say 00:19:17 - 00:19:21this though, uh the the clinics that 00:19:19 - 00:19:24really have it together, that really 00:19:21 - 00:19:26have it together, they go through their 00:19:24 - 00:19:27online scheduler and they say, "These 00:19:26 - 00:19:29are the 10 that booked today or the 20 00:19:27 - 00:19:31or the 50 or whatever that booked today 00:19:29 - 00:19:33and these are the ones that showed and 00:19:31 - 00:19:35they send a text message or they make a 00:19:33 - 00:19:36phone call to the ones that didn't and 00:19:35 - 00:19:38say, "Hey, I saw you booked but you 00:19:36 - 00:19:39didn't make it in. Did you get the care 00:19:38 - 00:19:40that you needed?" 00:19:39 - 00:19:41>> Yeah. And that's 00:19:40 - 00:19:41>> You want to talk about showing some 00:19:41 - 00:19:43care? 00:19:41 - 00:19:45>> Yeah. And we actually see that quite a 00:19:43 - 00:19:47bit. Um, if just to let you know, so we 00:19:45 - 00:19:49do some front desk training and one of 00:19:47 - 00:19:52the big things we'll push on and this is 00:19:49 - 00:19:54like a an extra bonus pro piece because 00:19:52 - 00:19:54you have to be very intentional with it, 00:19:54 - 00:19:56>> right? 00:19:54 - 00:19:58>> They missed an appointment. If your 00:19:56 - 00:20:00system doesn't have a way to reach back 00:19:58 - 00:20:02out to them immediately after 15 minutes 00:20:00 - 00:20:04or at least tell your front desk to call 00:20:02 - 00:20:06them and just say, "Saw you missed the 00:20:04 - 00:20:08appointment. Do you want to rebook?" And 00:20:06 - 00:20:10they may say, "Oh, I forgot. I got 00:20:08 - 00:20:11distracted. Who where's your location 00:20:10 - 00:20:13again?" And you know, those the 00:20:11 - 00:20:15conversations you'll have um and you'll 00:20:13 - 00:20:18get them right back. We even witnessed 00:20:15 - 00:20:20one where the front desk told somebody 00:20:18 - 00:20:23incorrect information 00:20:20 - 00:20:26that morning and we had the doctor call 00:20:23 - 00:20:29that same patient with us talking on the 00:20:26 - 00:20:31phone, which was funny. And uh he booked 00:20:29 - 00:20:33that patient to come in that afternoon 00:20:31 - 00:20:34because he saw an opportunity like I'm 00:20:33 - 00:20:35I'm going to see if they still need 00:20:34 - 00:20:37help. And that's what he did and it 00:20:35 - 00:20:39worked. See, but like we've said like it 00:20:37 - 00:20:41has to be very intentional. It can't be 00:20:39 - 00:20:42halfhazard because it just won't work 00:20:41 - 00:20:44properly. Uh but it's something we 00:20:42 - 00:20:46definitely encourage. 00:20:44 - 00:20:47>> I would I would say carve out time uh 00:20:46 - 00:20:48middle of the day and end of the day to 00:20:47 - 00:20:48do repeat calls. 00:20:48 - 00:20:50>> Yep. 00:20:48 - 00:20:52>> All right. Uh last one is the local 00:20:50 - 00:20:55search visibility. I know this sounds 00:20:52 - 00:20:56pretty obvious, but are you showing up 00:20:55 - 00:20:56when people need you? 00:20:56 - 00:20:58>> Yep. 00:20:56 - 00:21:01>> Are you showing up when people need you? 00:20:58 - 00:21:04Um this can be we're going to talk about 00:21:01 - 00:21:06the map threeack um which is the Google 00:21:04 - 00:21:08map section of of a search. Uh but 00:21:06 - 00:21:10ultimately are they is your visibility 00:21:08 - 00:21:12can be tied to your social media. Your 00:21:10 - 00:21:14visibility can be tied to the Google ads 00:21:12 - 00:21:16that you're running. Um when I say local 00:21:14 - 00:21:18visibility, I am talking about the map 00:21:16 - 00:21:19threeack. So in the anatomy of a Google 00:21:18 - 00:21:21search at the top you're going to have 00:21:19 - 00:21:23the ads. The next thing that you're 00:21:21 - 00:21:25going to see is that map threeack. They 00:21:23 - 00:21:27only hold three urgent cares in that map 00:21:25 - 00:21:30threeack and you absolutely want to be 00:21:27 - 00:21:32one of them. All right. Um that's going 00:21:30 - 00:21:33to be driven by your rankings. That's 00:21:32 - 00:21:35going to be driven by the reviews, the 00:21:33 - 00:21:37citations that you build through 00:21:35 - 00:21:38directories, services like Yex and 00:21:37 - 00:21:41Bright Local and things like that. 00:21:38 - 00:21:44>> Um, here's the thing. I I'm glad I'm 00:21:41 - 00:21:46glad Hannah put this in here is that the 00:21:44 - 00:21:49most common search term period is urgent 00:21:46 - 00:21:52care near me. And so what you want to do 00:21:49 - 00:21:54is within proximity of your clinic, 00:21:52 - 00:21:56either in your clinic or up to three to 00:21:54 - 00:21:57five miles out, run a search on your 00:21:56 - 00:21:59cell phone, run a search on your 00:21:57 - 00:22:01computer, and just put urgent care near 00:21:59 - 00:22:02me. That is the best indicator on 00:22:01 - 00:22:03whether or not you were showing up 00:22:02 - 00:22:04locally 00:22:03 - 00:22:05>> specifically. Do it in Google Maps on 00:22:04 - 00:22:06your phone. 00:22:05 - 00:22:07>> Absolutely. 00:22:06 - 00:22:10>> And you'll see exactly what's happening. 00:22:07 - 00:22:11And that gives you a real in inclinator 00:22:10 - 00:22:12of indicator of 00:22:11 - 00:22:14>> I like inclinator. Inclinator. 00:22:12 - 00:22:17>> That's a new good word. 00:22:14 - 00:22:19>> Take the indicator of who your true 00:22:17 - 00:22:21competitors are because we get all the 00:22:19 - 00:22:22oh it's the so and so down the street 00:22:21 - 00:22:24over here. Maybe 00:22:22 - 00:22:26>> not according to Google. But when you go 00:22:24 - 00:22:29walk outside your claim, we say like hop 00:22:26 - 00:22:31in your car, drive to the next gas 00:22:29 - 00:22:34station or restaurant, a popular 00:22:31 - 00:22:35restaurant, just pull up your phone, say 00:22:34 - 00:22:37urgent care near me, and you'll see your 00:22:35 - 00:22:39competitors. Hopefully, you'll see you 00:22:37 - 00:22:41and that's a good thing. But if you just 00:22:39 - 00:22:43don't see you and you're down the list 00:22:41 - 00:22:45or it's like the classic that shows your 00:22:43 - 00:22:46pinpoint but doesn't give a name beside 00:22:45 - 00:22:48it yet, it's because you're not that 00:22:46 - 00:22:49important yet to Google. 00:22:48 - 00:22:50>> Love it. 00:22:49 - 00:22:54>> All right. 00:22:50 - 00:22:56>> Well, all righty. I hope those numbers 00:22:54 - 00:22:58and those real life examples did not 00:22:56 - 00:23:00scare you. Maybe they encourage you. 00:22:58 - 00:23:01Maybe you're like, "Well, gosh, that 00:23:00 - 00:23:02sounds like my clinic right now. Hope 00:23:01 - 00:23:05they weren't talking about me." Probably 00:23:02 - 00:23:08not. But I wanted to show like this is 00:23:05 - 00:23:09what is what we deal with on a regular 00:23:08 - 00:23:11basis. So, let me ask you, are you do 00:23:09 - 00:23:13you have an audit out there that you 00:23:11 - 00:23:14haven't ran in a long time? would you 00:23:13 - 00:23:16like for us to come in just check things 00:23:14 - 00:23:18for you? Compare the metrics of what we 00:23:16 - 00:23:21know is good metrics, not vanity 00:23:18 - 00:23:22metrics, and just see what we can do for 00:23:21 - 00:23:24you there. Also too, there will be a 00:23:22 - 00:23:25link to the webinar itself so you can go 00:23:24 - 00:23:28watch and and complete because what we 00:23:25 - 00:23:29put in this episode is a snapshot of the 00:23:28 - 00:23:31whole of the thing, not every single bit 00:23:29 - 00:23:32of the webinar. And then we always have 00:23:31 - 00:23:35resources for you guys. We want to make 00:23:32 - 00:23:37sure you get those as well. And I hope 00:23:35 - 00:23:39that when you went through this episode, 00:23:37 - 00:23:41you thought about your numbers and you 00:23:39 - 00:23:43thought, is this really what I want to 00:23:41 - 00:23:46know more about or can I dig deeper and 00:23:43 - 00:23:48connect all the dots and making sure I 00:23:46 - 00:23:49am focused on the value, not the vanity. 00:23:48 - 00:23:53Thanks again for listening. We'll catch 00:23:49 - 00:23:53you on the next one.